Grab Holdings Limited (NASDAQ:GRAB) Given Average Rating of “Buy” by Analysts

Grab Holdings Limited (NASDAQ:GRAB) has been assigned an average rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $4.71.

Several brokerages have recently issued reports on GRAB. Benchmark reiterated a “buy” rating and set a $6.00 price target on shares of Grab in a report on Monday, August 19th. Jefferies Financial Group decreased their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Mizuho began coverage on shares of Grab in a research note on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Grab in a report on Friday, May 17th. They issued a “buy” rating and a $4.50 price objective for the company. Finally, Barclays raised their target price on Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a report on Wednesday, May 22nd.

Hedge Funds Weigh In On Grab

Institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. bought a new stake in Grab during the 2nd quarter valued at approximately $73,000. Algert Global LLC bought a new stake in shares of Grab in the second quarter valued at approximately $314,000. The Manufacturers Life Insurance Company grew its stake in shares of Grab by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 5,386,008 shares of the company’s stock worth $19,120,000 after acquiring an additional 129,604 shares during the last quarter. Maverick Capital Ltd. increased its position in Grab by 241.2% during the second quarter. Maverick Capital Ltd. now owns 440,585 shares of the company’s stock worth $1,564,000 after acquiring an additional 311,460 shares during the period. Finally, MBB Public Markets I LLC acquired a new position in Grab during the 2nd quarter valued at $539,000. 55.52% of the stock is currently owned by institutional investors.

Grab Trading Down 1.5 %

Shares of NASDAQ GRAB opened at $3.29 on Friday. The firm has a market capitalization of $12.91 billion, a PE ratio of -47.00 and a beta of 0.81. Grab has a one year low of $2.90 and a one year high of $3.82. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $3.34 and a two-hundred day moving average price of $3.39.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The business had revenue of $664.00 million for the quarter, compared to analysts’ expectations of $674.17 million. During the same period in the previous year, the company posted ($0.03) EPS. Grab’s revenue was up 17.1% on a year-over-year basis. As a group, analysts predict that Grab will post -0.01 earnings per share for the current fiscal year.

About Grab

Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.